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41t349`7
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JOINT VENTURE AGREEI`tENT
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The undersigned parties. TED M. ZINKER and HELEN A. i
ZINKER (hereinafter referred to as grantors) and GEORGE SPERANZO i
and ANTHONY SPERAN'LO (hereinafter referred to as grantees). de- ~
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~sirous of entering into this Joint Venture Agreement, hereby !
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tiagree as follows: ~
( 1. Grantors shall convey forthwith the following real ' ;
~property by warranty~deed to GEORGE SPERANZO i
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Lots 7 and Block 2, South View Addition, as { ~
f recorded in the public records of St. Lucie ~ ~
County. Florida. ~
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~ 2. Grantees shall imanediately thereafter obtain con- } '
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~struction mortgages to finance and construct a residence upon ; '
!each of the aforementioned lots. All expenses and services in ~
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~connection with the construction of said-residences shall be !
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;iborne by grantees and construction shall be comFleted as quickly ~ ~
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(°as is reasonably possible: 4
3. The com leted residences and lots shall be sold at ~
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~{a fair market value as soon as possible. Upon each sale, grant- ;
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; ~jors shall be guaranteed a minimum return of $4,000 per lot. !
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{ ~ 4. After the aforementioned $4,000 per lot has been. i
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~ ,,distributed, and after all.related marketing, closing and mort ~ ?
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~ ~;gage satisfaction expenses have been satisfied, the remaining
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~ +net proceeds (if any) from each sale shall be distributed as ~
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~ ~~follows. fifty percent to grantors and fifty percent to grantees.! ~
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~ 5. This Agreement is not subject to recordation.in the ;
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~ ~public records of S.t. Lucie County until such time as a Certi- ; ~
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~~ficate of Occupancy has been issued for both of the subject resi- ! _
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~ - `~dences . ~ i
~ ~ day of January, 1978. j~
Dated this
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~ PEER. SELMI
~ & KOEBE. ~.A. .Q / !
ATiOIlilT3 Ati~ ~ ~~i~~-- '
~AU`tStLOR/ AT LAW W TNESS E 24. ZI R
pICK C/?~tOLL ~t.OG. ~
'ti70 N.l. p1f1! HMry. ~
~[~7tH ~twCH.~I i
SS~57
WOSI S~~-7110 ~
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; , ` 295 "100
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